LME unveils steel futures proposals

After several months of research into the potential for steel futures, London Metal Exchange (LME) has identified three products which it thinks would be the most viable way to kick-start the market.

Two of the contracts are for hot rolled coil (HRC) and the other for either rebar or billet. The exchange said that although the contracts would probably not trade in large volumes immediately, they had potential to become valuable risk management tools...